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Publication Details
Type
Proposed Rulemaking
Document Number
2011-8364
Federal Register Publish Date
04/29/2011
Federal Register Citation
Comment Open Date
04/29/2011
Comment End Date
06/10/2011
Comment Status
Closed
Rulemaking Details
Rulemaking

Credit Risk Retention

Date
12/24/2014
Number
RIN-2590-AA43
Group
Other
CFR
12 CFR 1234
Effective Date

Credit Risk Retention

Contact Information

FOR FURTHER INFORMATION CONTACT: ​Patrick J. Lawler, Associate Director and Chief Economist, Patrick.Lawler@fhfa.gov, (202) 414–3746; Austin Kelly, Associate Director for Housing Finance Research, Austin.Kelly@fhfa.gov, (202) 343–1336; Phillip Millman, Principal Capital Markets Specialist, Phillip.Millman@fhfa.gov, (202) 343–1507; or Thomas E. Joseph, Senior Attorney Advisor, Thomas.Joseph@fhfa.gov, (202) 414–3095; Federal Housing Finance Agency, Third Floor, 1700 G Street, NW., Washington, DC 20552. If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.

Summary

SUMMARY: The OCC, Board, FDIC, Commission, FHFA, and HUD (the Agencies) are proposing rules to implement the credit risk retention requirements of section 15G of the Securities Exchange Act of 1934 (15 U.S.C. 78o–11), as added by section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 15G generally requires the securitizer of asset-backed securities to retain not less than five percent of the credit risk of the assets collateralizing the asset-backed securities. Section 15G includes a variety of exemptions from these requirements, including an exemption for asset-backed securities that are collateralized exclusively by residential mortgages that qualify as "qualified residential mortgages," as such term is defined by the Agencies by rule.

DATES: Comments must be received by June 10, 2011.​
 

Public Comments people-icon

Below are a compilation of public comments made on this publication.

252 items
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Date First Name Last Name Organization Comment
06/01/11 Center for Responsible Lending
Consumer Federation of America; National Community Reinvestment Coalit…
Email: N/A
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05/31/11 LNR Property, LLC
Federal Housing Finance Agency (FHFA). View Comment Email: N/A
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05/31/11 David S. Addington The Heritage Foundation
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05/31/11 John Campbell N/A
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05/27/11 K. Terrence Wakefield The Wakefield Company, LLC
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05/27/11 Rick Bialobrzeski GreenPath, Inc.
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05/26/11 Bram Smith The Loan Syndications and Trading Association (LSTA)
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05/26/11 Mary L. Landrieu N/A
Kay R. Hagan; Johnny Isakson. View Comment Email: N/A
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05/26/11 Peter J. Visclosky N/A
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05/18/11 Charles W. Proctor, III National Association of Independent Land Title Agents (NAILTA)
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05/16/11 Rose A. Zitiello City of Cleveland Deparment of Community Development
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05/10/11 PNC Financial Services Group/PNC Mortgage
Federal Housing Finance Agency (FHFA). View Comment Email: N/A
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05/10/11 Redwood Trust
Federal Housing Finance Agency (FHFA). View Comment Email: N/A
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05/09/11 David A. Levine N/A
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05/06/11 Home Equity Securities, LLC (HES)
Federal Housing Finance Agency (FHFA). View Comment Email: N/A
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05/05/11 Bank of America (BoA)
Federal Housing Finance Agency (FHFA). View Comment Email: N/A
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05/04/11 Martin Heilweil N/A
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04/25/11 Unknown CMBS Investor and Former Wall Street Employee
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04/21/11 Richard A. Dorfman Securities Industry and Financial Markets Association (SIFMA)
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04/20/11 Mark Vinciguerra Northern Ohio Investment Company (NOIC)
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04/15/11 Barney Frank N/A
Carolyn B. Maloney; Maxine Waters; Melvin L. Watt; Brad Miller; Luis V…
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04/15/11 Sherri O'Callaghan Nebraska Mortgage Association
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04/15/11 Tom Price, M.D. N/A
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04/14/11 Patrick Bates N/A
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04/04/11 Chris Barnard N/A
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